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Golconda Gold Ltd V.GG

Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a gold producer and explorer with mining operations and exploration tenements in South Africa and the United States. Its principal business activities are the exploration, development, and operation of gold mining properties. It operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa), through subsidiaries located in Mauritius and South Africa; and a mine and processing infrastructure located in the United States of America (the Summit Property). Its Galaxy gold property is situated about eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers 58.6 square kilometers and is part of the Barberton Greenstone Belt.


TSXV:GG - Post by User

Comment by Geodan2on Feb 12, 2022 2:02pm
220 Views
Post# 34423420

RE:Mupane Sale Was Very Shrewd Move!

RE:Mupane Sale Was Very Shrewd Move!Agree, was just about to post same thing.  Will with commentary. https://www.youtube.com/watch?v=7KwFBTTMlgk+ 6 hours ago.
Katchum has Video out. I have email in to Nick on Friday no response yet, on same issue. I guessed 0-2 million debt after deal, seems him digging deep thinks less than .5 million debt left? And also big royalty liability gone too. So only 5% of equity in Galane is lost yet almost all debt and also payables and royalties owed are gone.

So will Galane be obliged to take a big credit over this, such as $10+ million profit credit for getting rid of debt while losing tiny equity in 2022? Seems so. Katchum is thinking 5 bagger in 1-2 years just based on 5 X EBITDA. Worth watching. I would not be surprised with 5 bagger in next 18 months.
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